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The Crypto Report: Cryptocurrencies rally with confidence remaining in the broader market

Cryptocurrencies recovered some lost ground, with Bitcoin going above US$30,000, a sign confidence may not have been knocked too much by Terra’s and Luna’s crash. Bitcoin, the largest coin by market cap, rallied 13% to go to US$30,434, recovering from a low of US$26,000 yesterday. Ethereum also surged 13%, climbing to US$2,100. The coin had dipped well below US$2,000 in the last 24 hours, to as low as US$1,700. According to Ipek Ozkardeskaya, a senior analyst at Swissquote, “the dust seems to be settling in cryptocurrencies”.

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The Crypto Report: Cryptocurrencies continue to tumble as investors get anxious over stable coins

Cryptocurrencies fell again with traders beginning to get nervous about the value of stable coins linked to the US dollar. Bitcoin, the largest token by market cap, fell for the sixth consecutive day, losing 2.50% to US$31,430. Ethereum lost 1.98%, also falling for the sixth consecutive day, with the coin changing hands at US$2,366. According to Naeem Aslam, a market analyst at Avatrade, Bitcoin’s recent price battering is “mainly due to the fact that crypto traders are nervous about Terra’s US Terra (UST) peg with the dollar”.

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The Crypto Report: Cryptocurrencies rally as Elon Musk strikes Twitter deal

Cryptocurrencies rallied to offset some of the losses made in the last week, mirroring the two tech stock indices as Elon Musk reached a deal to buy Twitter. Bitcoin, the largest coin by market cap, gained 4.06% to US$40,572, its highest value in four days. The cryptocurrency is trading just above its key support level, having dropped as low as US$38,338 yesterday. Ethereum also climbed, up 5.55% to US$3,001. Like Bitcoin, it is trading just above its key support level of US$3,000, and at its highest level since Thursday.

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The Crypto Report: Cryptocurrencies edge higher as investors eye ECB’s monetary policy decision

Cryptocurrencies moved higher, mirroring wider markets, with traders eagerly awaiting the European Central Banks’ (ECB) monetary policy decision. Bitcoin increased 2.89% to US$41,265, clawing back some of the almost 6% losses suffered earlier in the week. The largest coin by market value had briefly dipped below the key resistance level of US$40,000 yesterday. Ethereum was up 1.64% to US$3,106, reaching its highest level since the start of the week. Some of the other movers include Solana, which was up 2.24% to US$106,48, Terra, which climbed 3.12% to US$88.64 and Avalanche,…

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The Crypto Report: Cryptocurrencies rattled as Fed hints at aggressive rate hikes

Cryptocurrencies resumed their rollercoaster start to the year, dashing yesterday’s slim hopes of a fight-back, as markets tumbled across the world after federal reserve hinted at a string of interest hikes in the year ahead. Bitcoin fell around 4%, to just above the $36,000 giving up all of Wednesday’s gains, as fears grow it could resume its flirtation with the key $32,500 level. Ethereum was around 3% lower at $2,400 – trading below its own psychologically important $2,500 price tag. Facebook’s The Diem Association, the group that aimed to build…

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